SoCalEd’s $600 Million Offering

March 30, 2020

Cleary Gottlieb represented J.P. Morgan, Morgan Stanley, and TD Securities, as representatives of the underwriters, in a $600 million reopening of 3.7% first and refunding mortgage bonds, Series 2018E, due 2025 by Southern California Edison Company (SoCalEd).

The senior debt securities are secured by a lien on substantially all of SoCalEd’s property and franchises. The SEC-registered offering priced on March 30, 2020, and will close on April 2, 2020.

SoCalEd is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of Southern California, excluding the City of Los Angeles and certain other cities. It owns and operates transmission, distribution, and generation facilities, and procures power from a variety of sources, including other utilities and merchant and other non-utility generators.